The Real Deal Miami

Palm Beach County’s new foreclosures hit seven-year low

January 08, 2014 03:45PM

The number of last year’s new foreclosure filings in Palm Beach County dropped below 10,000 – the lowest level since 2006.

There 9,857 cases filed by lenders last year, according to 2013 data from the county Clerk & Comptroller’s Office. Compared to 2012, that’s a 36 percent decrease. Seven years ago, the county saw a mere 5,144 filings.

Although other South Florida counties’ data is not yet available, foreclosure drops have been occurring all year long. Palm Beach County’s foreclosure rate in October fell to 6.9 percent from 10.9 percent that month in 2012, according to CoreLogic.

Miami-Dade County’s foreclosure rate was at 9.2 percent in October, down from 15.1 percent in October 2012. Broward County’s foreclosure rate dropped from about 12 percent to 8.1 percent during the same span. [Sun-Sentinel] — Mark Maurer